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Chinese antitrust watchdog, State Administration of Market Supervision (SAMR), announced Tuesday it has started investigating price gouging in the automotive chip market.
The regulatory body promised to strengthen supervision and punish illegal acts such as hoarding, price hikes and collusive price increases. SAMR singled out distributors as the object of its ire.
In the early stages of the COVID-19 pandemic, prices for items such as hand sanitizer, face masks, toilet paper and other health-related items saw startling inflation that required legal intervention.
As the pandemic wore on and work from home kit became a necessity, the world saw a new kind of shortages: semiconductors.
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China to investigate auto chip price gouging
China’s regulatory agency the State Administration For Market Regulation (SAMR) is launching an investigation into price gouging by distributors of automotive ICs.
“In response to prominent problems such as speculation and high prices in the automotive chip market, the State Administration of Market Supervision has recently filed an investigation on car chip distributors,” the agency said.
The distributors were suspected of driving up prices, said the agency, and said it would investigate and punish illegal acts such as hoarding, price-gouging and collusion.
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